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In a merchandising business, gross margin is equal to sales revenue minus:

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In a merchandising business, gross margin is equal to sales revenue minus:

In a merchandising business, gross margin is equal to sales revenue minus:
A) the sum of cost of goods sold, operating expenses, and prepaid expenses
B) the sum of cost of goods sold and operating expenses
C) cost of goods sold
D) the sum of cost of goods sold and sales commissions

Textbook

Financial Accounting, Canadian Edition

Edition: 5^th

Authors: Harrison, Horngren, Thomas, Berberich, Seguin

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